Alkermes plc $ALKS Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Alkermes plc (NASDAQ:ALKS) by 36.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 942,184 shares of the company’s stock after selling 535,030 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Alkermes were worth $33,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Alkermes by 43.1% during the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after purchasing an additional 103,749 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Alkermes during the third quarter worth $1,691,000. Fisher Asset Management LLC lifted its position in shares of Alkermes by 21.0% in the 4th quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock worth $10,926,000 after buying an additional 67,745 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of Alkermes by 80.9% in the 4th quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after buying an additional 36,067 shares during the period. Finally, Abacus FCF Advisors LLC acquired a new position in shares of Alkermes in the 4th quarter valued at about $6,141,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALKS. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. UBS Group lifted their target price on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. Finally, Royal Bank Of Canada increased their price target on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.38.

Alkermes Price Performance

NASDAQ ALKS opened at $52.40 on Wednesday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.28. The firm has a market capitalization of $8.73 billion, a PE ratio of 58.22 and a beta of 0.38. The company’s 50 day simple moving average is $40.53 and its 200 day simple moving average is $34.37. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. As a group, equities research analysts forecast that Alkermes plc will post -0.43 EPS for the current fiscal year.

Insider Transactions at Alkermes

In related news, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of Alkermes stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the transaction, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,102 shares of company stock valued at $991,238. Corporate insiders own 4.59% of the company’s stock.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.